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Abstract In December 2001 the President’s Commission to Strengthen Social Security published a report describing plans to reform Social Security through the introduction of new, privately managed, defined-contribution pension accounts. The new accounts are to be financed by diverting a portion of payroll taxes that are now used to finance pensions under the existing defined-benefit…
Abstract The Social Security program, like the federal income tax system, is not marriage neutral. In the income tax literature, when a couple faces a higher (lower) tax bill as a married couple than as two single individuals, it is said that the couple, in effect, faces a marriage penalty (marriage subsidy). Similarly, provisions in…